Facing a barrage of allegations from its former chairman, property developer Kong Tai International says the nearly completed review of the company's finances by Price Waterhouse will put all disputes to rest. Former chairman Wang Xian Chou on Monday issued an open letter to the press, securities regulators and the Commercial Crime Bureau containing allegations against current chairman David Wong Wai-chi. Mr Wang questioned the validity of a share transaction last June between himself and Mr Wong. Queries also were raised over the value of Kong Tai's properties. Mr Wang said further action would be taken once sufficient evidence was collected to support his case. Kong Tai director Gregory Pek said: 'I have no idea what his motivation is. 'The best way forward is to finish the investigation that we started and follow that through. That is the best we can do.' Kong Tai last month appointed Price Waterhouse to review the company's financial position. Mr Pek said the report would be finalised within weeks and would be sent to the Securities and Futures Commission and the stock exchange. 'We will let the facts speak,' he said. The review was to focus on the group's property deals in the 12 months to June 30, aimed at related-party or unusual transactions. The appointment of Price Waterhouse came just a few weeks after the company's annual general meeting on June 28 confirmed the change in management from Mr Wang back to Mr Wong. Kong Tai's problems were first brought to light in January when it admitted overstating the value of two properties by $226 million in its annual report. That provoked a probe by the regulatory body. Subsequently, in its final result for the period to December 31, the auditor questioned the validity and recoverability of a loan and receivables, together worth $71.76 million.